Bengaluru-based parent-tech startup Parentof has raised $1 million in a seed funding round to evolve its technology and expand its partner network.
The recent funding round was led by angel investors V Srinivas and other existing investors.
Founded in 2015, Parentof is a decision sciences organization that provides insights into child growth and decision analytics. The company creates an ecosystem for parents to easily access technology-enabled solutions to help drive better outcomes for children. It believes that applying research and technologies like Artificial Intelligence and Machine Learning can bridge the gap between the realities and assumptions of parenting.
With its in-house developed proprietary system ARC Engine, Parentof addresses parenting challenges. ARC Engine uses AI, Machine Learning (ML), and child specialists’ knowledge to identify growth indicators for each skill and ability. The ARC Engine then recommends methods to improve the child’s growth on each skill, based on scientific growth indicators.
Speaking on the latest funding the startup has received and its future plans, Swaroop Madhavan, Co-founder and CEO of Parentof, said,
“With the new funding in place, we are piloting a system, which can help parents discover and engage with experts and services (pediatricians, psychologists, hobby classes, sports coaching, etc.) based on the unique growth needs of the child. This, paired with our recent acquisition of Pupilpod, an education management platform from Value Point Group, will help in enhancing the ARC Engine’s capabilities and make AI personalized for every child.”
“We are working towards increasing our partner base to over 1,000 in the next 12 months. Interestingly, we have been able to run successful O2O models building a great experience for partners and parents alike. Especially considering how parenting decision are being fuelled extensively by online reviews and expert opinions, we are one of the few startups focused on creating a new system to sustain healthy parenting e-habits.”
Parentof has also developed its own app called Mai – Smart Parenting and Child Growth Companion. With 800+ skill growth activities for kids aged 3-15 years, and designed by world-renowned child care experts, Doctors, Neuro Scientists and Psychologists, Mai assesses the child’s skills and customizes activities that focus on skill growth and development. The children activities are based on the child’s age and specific development needs. Mai first talks to parents and understands the child, then guides parents with scientifically designed daily steps to develop the child’s key skills.
Speaking on the reason why he is investing in the startup, V. Srinivas said,
“More and more parents are adopting online systems to educate and assist in child growth and development. With the likes of edtech and commerce going mainstream for child-related consumption (BYJU’s and FirstCry entering the Unicorn markets), acceptance by parents to e-related habits is growing at a tremendous pace. The work Parentof is doing is already being applauded in the US and India. I’ve chosen to stand in support because of its vision and divergent insights.”
Meanwhile, the latest round has brought the total funding raised by Parentof to $2 million. The startup said that it aims to help 10 million parents across India by 2020 to make informed child related decisions.